Honeywell International Inc. has announced the leadership team and company name for its Advanced Materials spin-off, marking a significant milestone in its strategic restructuring.
The new entity, named Solstice Advanced Materials, will operate as an independent, publicly traded company.
The spin-off is anticipated to be finalized by late 2025 or early 2026.
It seeks to establish Solstice Advanced Materials as a leading company in the specialty chemicals and materials market.
Honeywell Solstice Advanced Materials: Leadership Team Announced
The spin-off will establish Solstice Advanced Materials as a sustainability-focused company headquartered in Morris Plains, New Jersey.
The company reported nearly $4 billion in revenue last year. It plans to use its expertise in advanced materials and specialty chemicals to foster innovation and achieve growth.
Solstice Advanced Materials will continue to offer leading technologies, including its flagship Solstice® hydrofluoroolefin technology, which is known for its low global warming potential.
Honeywell has revealed the key members of the leadership team for Solstice Advanced Materials, bringing together seasoned professionals with extensive experience in the chemicals and materials industries:
- Dr. Rajeev Gautam: Appointed as the non-executive Chairman of the Board of Directors, Rajeev brings over four decades of experience at Honeywell. He has previously served as President and CEO of Honeywell Performance Materials and Technologies (PMT) and Honeywell UOP. His leadership will provide strategic direction for the new company.
- David Sewell: Named President and CEO of Solstice Advanced Materials, David has over 30 years of experience in the industry. He previously served as CEO of WestRock Company and held leadership roles at Sherwin-Williams and General Electric. David’s expertise in transformation strategies will be instrumental in guiding the company’s growth.
- Tina Pierce: Appointed as Chief Financial Officer, effective May 1, 2025, Tina has over 25 years of experience at Honeywell. She has held CFO roles in major business segments, including Performance Materials and Technologies and Industrial Automation.
- Jeff Dormo and Simon Mawson: Both have been promoted to Senior Vice Presidents and General Managers, leading Solstice Advanced Materials’ two business segments. Their focus will be on business growth and strengthening customer relationships.
Strategic Vision and Global Presence
Solstice Advanced Materials aims to redefine the specialty chemicals and materials market with a strong emphasis on sustainability and innovation.
The company will maintain a global presence with teams operating across key locations worldwide.
These locations include Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest, and Mexico City.
Additionally, it will retain its manufacturing and R&D facilities to support its operations.
The spin-off of Solstice Advanced Materials is a key component of Honeywell’s broader strategy. It aims to streamline operations and prioritize focus on core business areas.
This move builds on the company’s earlier announcement to separate its Aerospace Technologies segment. The separation will be finalized by 2026.
Honeywell has structured both spin-offs to be tax-free for its shareholders.
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